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Essay heading: Pag-ibig Fund
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Social Issues |
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| Date added: |
November 7, 2004 |
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37 / 10137 |
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35. Membership was still on a mandatory basis but under more liberal terms. For one, contribution rate was reduced from three percent to one percent for employees earning over P1, 500. Employer share was likewise cut from three percent to a fixed rate of two percent. The Maximum Fund Salary was raised from P 3,000 to P 5,000... displayed 300 characters
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The Maximum Fund Salary was raised from P 3,000 to P 5,000.
January 1, 1987 marked the return of the Pag-IBIG Fund to a voluntary program under Executive Order No. 90. The next eight years witnessed the growth of the Pag-IBIG Fund as a voluntary Fund.
On June 17, 1994, President Fidel V. Ramos signed Republic Act 7742, which reverts the nature of Pag-IBIG membership to mandatory... displayed next 300 characters
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